Harbin has the largest economy in Heilongjiang province.[12] In 2013, Harbin's GDP totaled RMB501.08 billion, an increase of 8.9 percent over the previous year.[90] The proportion of the three industries to the aggregate of GDP was 11.1:36.1:52.8 in 2012. The total value for imports and exports by the end of 2012 was US$5,330 million.[12] In 2012, the working population reached 3.147 million. In 2015, Harbin had a GDP of RMB 575.12 billion.[91]
The chernozem soil in Harbin, called "black earth" is one of the most nutrient rich in all of China, making it valuable for cultivating food and textile-related crops. As a result, Harbin is China's base for the production of commodity grain and an ideal location for setting up agricultural businesses.
Harbin also has industries such as light industry, textile, medicine, food, aircraft, automobile, metallurgy, electronics, building materials, and chemicals which help to form a fairly comprehensive industrial system. Several major corporations are based in the city. Harbin Electric Company Limited, Harbin Aircraft Industry Group and Northeast Light Alloy Processing Factory are some of key enterprises. Power manufacturing is a main industry in Harbin; hydro and thermal power equipment manufactured here makes up one-third of the total installed capacity in China.[92] According to Platts, in 2009-10 Harbin Electric was the second largest manufacturer of steam turbines by worldwide market share, tying Dongfang Electric and slightly behind Shanghai Electric.[93] Harbin Pharmaceutical Group, which mainly focus on research, development, manufacture and sale of medical products, is China's second-biggest pharmaceutical company by market value.[94]
Harbin International Trade and Economic Fair has been held annually since 1990.[95] This investment and trade fair cumulatively attracting more than 1.9 million exhibitors and visitors from more than 80 countries and regions to attend, resulting over US$100 billion contract volume concluded according to the statistics of 2013.[96] Harbin is among major destinations of FDI in Northeast China,[12] with utilized FDI totaling US$980 million in 2013.[90] After the 18th regular meeting between Sino-Russian Prime Ministers between Li Keqiang and Dmitry Anatolyevich Medvedev in October 2013,[97] two sides come to make an agreement that the Harbin International Trade and Economic Fair will be renamed "China-Russia EXPO" and be co-sponsored by the Chinese Ministry of Commerce, Heilongjiang Provincial government, the Russian Ministry of Economic Development and Russia's Ministry of Trade and Industry.[98]
Headquarters of Harbin Bank
In the financial sector, Longjiang Bank and Harbin Bank are some of the largest banks in Northeast China, with headquarters in Harbin. The latter ranks 4th by competitiveness among Chinese city commercial banks in 2011.[99]
In commerce, there is Qiulin Group, which owns Harbin's largest department store.
